Business lease: shop in parade

Not yet reviewed

This lease is for letting a single shop or retail unit in a multi-tenant parade owned by the same landlord. The shop could be used for any purpose; for example: sale of goods, restaurant, cafe or sale of services (e.g. estate agency or PC repair). Any upper parts of the building are let separately. Features: service charge provision; guarantor; break provision; rent review options; option for assignment; sub-letting not allowed; draft agreement for security deposit.

About this lease

This business lease has been drawn to let a retail unit in a parade of shops owned by the same landlord. Tenants are likely to share some facilities and services. This agreement allows for service charge recovery and use of shared facilities between tenants. The shop could be for any purpose. Examples are: retail of goods, restaurant or cafe, or service provision such as PC repair or estate agency.

The shop may or may not have additional space used by the tenant for other business purposes, such as offices or storage.

This is a professionally drawn, very comprehensive lease with massive legal protection for the landlord including a long menu of “do’s” and “don’ts”.

This lease is not a compromise between the interests of the parties. It prefers the landlord’s interest. We think that is the best start point. If you wish to make concessions to your tenant, that is fine, but we want you have those choices.

It includes service charge provisions to provide 100% recovery of service costs.

Similar commercial lease agreements

If a restaurant, cafe or fast food outlet will be operated from the property, Restaurant lease agreement may be more appropriate. This lease contains specific clauses for commercial kitchens and food retail.